IN HB1004 | 2010 | Regular Session
Status
Spectrum: Bipartisan Bill
Status: Engrossed on January 12 2010 - 50% progression, died in chamber
Action: 2010-02-11 - Senator Mrvan added as cosponsor
Text: Latest bill text (Amended) [HTML]
Status: Engrossed on January 12 2010 - 50% progression, died in chamber
Action: 2010-02-11 - Senator Mrvan added as cosponsor
Text: Latest bill text (Amended) [HTML]
Summary
Requires trending adjustments to real property assessments every two years instead of annually. In making the annual calculation of the base rate for the assessment of agricultural land, requires the department of local government finance to use an adjusted six year average that eliminates the highest and lowest values determined for the six year period. Applies a property tax credit to limit property tax liability on real property based on the change in the annual average Consumer Price Index (CPI) . Requires the budget agency to determine and give notice of the CPI factor. Excepts from eligibility for the credit taxes based on certain changes relating to the real property, taxes imposed after being approved by the voters in a referendum or local public question, taxes payable in the first year after certain transfers of title, taxes that result from the correction of an error, and taxes attributable to the elimination of or a reduction in the amount of a tax abatement deduction . Specifies how the credit applies if parcels are combined. Allows an appeal to the distressed unit appeal board by certain political subdivisions affected by the credit. Specifies the relief that board may authorize.
Title
Property taxes.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2010-02-11 | Senator Mrvan added as cosponsor | |
| 2010-02-01 | First reading: referred to Committee on Tax and Fiscal Policy | |
| 2010-01-12 | Cosponsor: Senator R. Young | |
| 2010-01-12 | Senate sponsors: Senators Kenley, Tallian and Hershman | |
| 2010-01-12 | Referred to the Senate | |
| 2010-01-12 | Third reading: passed; Roll Call 14: Yeas 82, Nays 13 | |
| 2010-01-07 | Representative Espich added as coauthor | |
| 2010-01-07 | Amendment 1 (Grubb), prevailed; Voice Vote | |
| 2010-01-07 | Second reading: amended, ordered engrossed | |
| 2010-01-05 | Committee report: amend do pass, adopted | |
| 2009-11-17 | First reading: referred to Committee on Ways and Means | |
| 2009-11-17 | Coauthored by Representatives Pearson and Steuerwald | |
| 2009-11-17 | Authored by Representative Grubb |
